DUTCH ASSET Corp Takes Position in GE Vernova Inc. $GEV

Key Points

• DUTCH ASSET Corp disclosed a new fourth-quarter stake in GE Vernova, buying 1,041 shares valued at about $680,000.
• Several other institutional investors also reported small new positions or larger stakes in the company, while insiders have been trimming holdings. CEO Victor Abate and CAO Matthew Joseph Potvin both sold shares in recent transactions.
• GE Vernova posted strong quarterly results, including EPS of $17.44 and revenue of $9.34 billion, both above expectations. The company also announced a quarterly dividend of $0.50 per share and continues to draw a mostly bullish analyst outlook.

DUTCH ASSET Corp purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,041 shares of the company's stock, valued at approximately $680,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Jackson Grant Investment Advisers Inc. increased its position in GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company's stock valued at $25,000 after acquiring an additional 31 shares in the last quarter. Cornerstone Financial Management LLC bought a new position in shares of GE Vernova in the fourth quarter worth about $25,000. Wealth Watch Advisors INC acquired a new position in shares of GE Vernova during the third quarter worth approximately $25,000. Torren Management LLC acquired a new position in shares of GE Vernova during the fourth quarter worth approximately $26,000. Finally, ORG Wealth Partners LLC grew its stake in shares of GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock valued at $27,000 after purchasing an additional 29 shares during the last quarter.

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Insider Buying and Selling

In related news, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the sale, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate insiders.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $1,111.65 on Friday. The stock's fifty day simple moving average is $1,022.78 and its 200 day simple moving average is $847.85. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $298.72 billion, a PE ratio of 32.38, a PEG ratio of 4.11 and a beta of 1.23. GE Vernova Inc. has a 12 month low of $479.04 and a 12 month high of $1,181.95.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.95 by $15.49. The firm had revenue of $9.34 billion during the quarter, compared to analysts' expectations of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company's revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 earnings per share. On average, research analysts predict that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be given a $0.50 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's payout ratio is currently 5.83%.

Analysts Set New Price Targets

A number of analysts recently weighed in on GEV shares. Erste Group Bank raised shares of GE Vernova to a "strong-buy" rating in a report on Tuesday, March 24th. Weiss Ratings raised GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. Citigroup increased their price objective on GE Vernova from $779.00 to $1,110.00 and gave the company a "neutral" rating in a research report on Monday, April 13th. BNP Paribas Exane cut GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 target price for the company. in a research note on Monday, April 27th. Finally, Argus set a $1,300.00 target price on GE Vernova in a research note on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,089.88.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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